Current Ratio
since 2005
Calculation
Las Vegas Sands Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1.73 | = | 6,744) | ÷ | 3,902) |
| Dec 31, 2021 | 2.15 | = | 5,510) | ÷ | 2,565) |
| Dec 31, 2020 | 1.15 | = | 2,644) | ÷ | 2,309) |
| Dec 31, 2019 | 1.65 | = | 5,305) | ÷ | 3,224) |
| Dec 31, 2018 | 1.76 | = | 5,566) | ÷ | 3,157) |
| Dec 31, 2017 | 1.09 | = | 3,207) | ÷ | 2,948) |
| Dec 31, 2016 | 1.10 | = | 3,098) | ÷ | 2,806) |
| Dec 31, 2015 | 1.46 | = | 3,609) | ÷ | 2,464) |
| Dec 31, 2014 | 1.91 | = | 5,190) | ÷ | 2,712) |
| Dec 31, 2013 | 1.76 | = | 5,516) | ÷ | 3,130) |
| Dec 31, 2012 | 1.71 | = | 4,478) | ÷ | 2,623) |
| Dec 31, 2011 | 2.16 | = | 5,397) | ÷ | 2,499) |
| Dec 31, 2010 | 1.56 | = | 4,059) | ÷ | 2,600) |
| Dec 31, 2009 | 3.06 | = | 5,624) | ÷ | 1,839) |
| Dec 31, 2008 | 2.44 | = | 3,741) | ÷ | 1,530) |
| Dec 31, 2007 | 0.92 | = | 1,379) | ÷ | 1,493) |
| Dec 31, 2006 | 1.49 | = | 1,094) | ÷ | 735) |
| Dec 31, 2005 | 1.40 | = | 645) | ÷ | 460) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity profile exhibits substantial fluctuation over the analyzed period, characterized by phases of aggressive asset accumulation and subsequent normalization. While the current ratio remained above 1.0 for the majority of the timeframe, indicating a general capacity to cover short-term obligations, the volatility suggests shifting working capital strategies or responses to external economic pressures.
- Asset and Liability Trajectory
- Current assets grew from 645 million in 2005 to 6.74 billion in 2022. Concurrently, current liabilities increased from 460 million to 3.90 billion. This expansion reflects a significant increase in the scale of operations, although the growth in liabilities remained more linear compared to the volatile swings observed in asset levels.
- Liquidity Extremes
- A critical trough occurred in 2007, where the current ratio fell to 0.92, signaling a temporary deficit in short-term liquidity. This was followed by a sharp upward trend, peaking at 3.06 in 2009, which indicates a strategic build-up of liquid assets or a significant restructuring of short-term debt during the global financial crisis.
- Mid-Term Stability and Decline
- Between 2010 and 2017, the current ratio trended generally downward from 1.56 to 1.09. This period was marked by a steady increase in current liabilities alongside fluctuating asset levels, suggesting a move toward a leaner working capital management approach.
- Recent Volatility and Recovery
- A notable contraction occurred in 2020, with the current ratio falling to 1.15 as current assets decreased to 2.64 billion. A robust recovery followed, with the ratio peaking at 2.15 in 2021 before moderating to 1.73 in 2022, reflecting a strengthened liquidity position following the 2020 downturn.
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Comparison to Competitors
Las Vegas Sands Corp., current ratio, long-term trends, comparison to competitors
| Las Vegas Sands Corp. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 1.73 | 1.86 | 1.86 | 1.28 | 1.86 | 1.43 | 0.77 |
| Dec 31, 2021 | 2.15 | 1.95 | 2.10 | 1.58 | 2.59 | 1.78 | 1.20 |
| Dec 31, 2020 | 1.15 | 1.73 | 3.56 | 1.73 | 3.94 | 1.01 | 1.06 |
| Dec 31, 2019 | 1.65 | — | 1.83 | 1.61 | — | 0.98 | 0.92 |
| Dec 31, 2018 | 1.76 | — | 2.36 | 1.81 | — | 1.36 | 2.20 |
| Dec 31, 2017 | 1.09 | — | 2.58 | 1.94 | — | 1.84 | 1.25 |
| Dec 31, 2016 | 1.10 | — | 1.89 | 1.85 | — | 1.40 | 1.05 |
| Dec 31, 2015 | 1.46 | — | 2.47 | 2.91 | — | 3.27 | 1.19 |
| Dec 31, 2014 | 1.91 | — | 3.82 | 3.58 | — | 1.52 | 1.37 |
| Dec 31, 2013 | 1.76 | — | 5.41 | 3.34 | — | 1.59 | 1.02 |
| Dec 31, 2012 | 1.71 | — | 3.89 | 2.93 | — | 1.45 | 1.90 |
| Dec 31, 2011 | 2.16 | — | 2.77 | 3.18 | — | 1.25 | 1.83 |
| Dec 31, 2010 | 1.56 | — | 4.15 | 3.30 | — | 1.49 | 1.55 |
| Dec 31, 2009 | 3.06 | — | 2.50 | 2.91 | — | 1.14 | 1.29 |
| Dec 31, 2008 | 2.44 | — | 1.14 | 2.75 | — | 1.39 | 0.80 |
| Dec 31, 2007 | 0.92 | — | 0.88 | 2.75 | — | 0.80 | 0.79 |
| Dec 31, 2006 | 1.49 | — | 5.00 | 2.92 | — | 1.21 | 0.79 |
| Dec 31, 2005 | 1.40 | — | 3.15 | 0.42 | — | 1.45 | 0.99 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Services)
Las Vegas Sands Corp., current ratio, long-term trends, comparison to sector (consumer services)
| Las Vegas Sands Corp. | Consumer Services | |
|---|---|---|
| Dec 31, 2022 | 1.73 | 1.49 |
| Dec 31, 2021 | 2.15 | 1.77 |
| Dec 31, 2020 | 1.15 | 1.73 |
| Dec 31, 2019 | 1.65 | 1.27 |
| Dec 31, 2018 | 1.76 | 2.04 |
| Dec 31, 2017 | 1.09 | 1.85 |
| Dec 31, 2016 | 1.10 | 1.39 |
| Dec 31, 2015 | 1.46 | 2.21 |
| Dec 31, 2014 | 1.91 | 1.96 |
| Dec 31, 2013 | 1.76 | 1.84 |
| Dec 31, 2012 | 1.71 | 2.11 |
| Dec 31, 2011 | 2.16 | 1.72 |
| Dec 31, 2010 | 1.56 | 1.79 |
| Dec 31, 2009 | 3.06 | 1.33 |
| Dec 31, 2008 | 2.44 | 1.14 |
| Dec 31, 2007 | 0.92 | 0.82 |
| Dec 31, 2006 | 1.49 | 1.14 |
| Dec 31, 2005 | 1.40 | 1.36 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
Las Vegas Sands Corp., current ratio, long-term trends, comparison to industry (consumer discretionary)
| Las Vegas Sands Corp. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2022 | 1.73 | 1.15 |
| Dec 31, 2021 | 2.15 | 1.25 |
| Dec 31, 2020 | 1.15 | 1.19 |
| Dec 31, 2019 | 1.65 | 1.10 |
| Dec 31, 2018 | 1.76 | 1.15 |
| Dec 31, 2017 | 1.09 | 1.15 |
| Dec 31, 2016 | 1.10 | 1.12 |
| Dec 31, 2015 | 1.46 | 1.25 |
| Dec 31, 2014 | 1.91 | 1.11 |
| Dec 31, 2013 | 1.76 | 1.15 |
| Dec 31, 2012 | 1.71 | 1.14 |
| Dec 31, 2011 | 2.16 | 1.31 |
| Dec 31, 2010 | 1.56 | 1.24 |
| Dec 31, 2009 | 3.06 | 1.25 |
| Dec 31, 2008 | 2.44 | 0.96 |
| Dec 31, 2007 | 0.92 | 1.21 |
| Dec 31, 2006 | 1.49 | 1.15 |
| Dec 31, 2005 | 1.40 | 1.10 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).